Mike Baird selected by Liberal colleagues to be NSW Premier

And so after the drama of Wednesday, today ran a little bit more smoothly for the NSW Liberal Party.

Initial talk of a leadership contest between Mike Baird and Gladys Berejiklian was discounted early, when the latter withdrew her candidacy to focus on becoming deputy. This was unwelcome news to the right of the party, but they appeared to be later mollified, as Pru Goward and Anthony Roberts withdrew from the race to be deputy.

This allowed Baird and Berejiklian to be elected unopposed to head the party.

Baird then gave a confident first press conference where he announced he didn't just want to stabilise NSW, but "transform it". (An attempt to distance himself from O'Farrell's reputation as a plodder, perhaps?)

Ms Berejiklian announced she would stay on as transport minister, rather than take on the treasury portfolio, while Mr O'Farrell is going to continue in politics, presumably on the back bench.

Quote of the day goes to Mr O'Farrell, for his joke as the two future leaders walked into a party room meeting.

"You're late. As a consequence, Gareth Ward has been elected Premier unopposed."

Baird has given a staunch defence of the Liberal Party's record during its three years in office, talking about how when they assumed government the state was lagging others on many indicators, whereas "we are today leading the nation".

"Economic growth, we were last. We're now first.

"Jobs growth, a critical measure. We were last, we're now first."

4:38pm on 17 Apr 2014

Mike Baird has told the press it is "an honour to lead NSW" and to work alongside "my good mate" Gladys Berejiklian.

He says, "We are shocked and saddened by the events of the last 48 hours."

But adds that Barry O'Farrell has done a "great job".

4:34pm on 17 Apr 2014

So we are getting very close to Mike Baird's first press conference since being selected as the next Premier of NSW.

Stand by...

4:24pm on 17 Apr 2014

The deputy premier, Nationals leader Andrew Stoner, has welcomed the election of a new premier.

‘‘The Nationals fully support the incoming Premier and, together with the Liberals, are committed to providing strong, stable and responsible government for NSW,’’ Mr Stoner said.

He praised Mr Baird’s term as treasurer, saying he delivered on $13 billion for regional infrastructure.

‘‘Since being elected in March 2011, the NSW Liberals and Nationals have worked tirelessly to turn this state around with NSW now creating more new jobs than any other state and new roads, rail lines and hospitals under construction,’’ he said.

4:22pm on 17 Apr 2014

Member for North Shore Jillian Skinner is speaking to Sky News' David Speers from NSW Parliament.

She says it was "genuinely her own decision" to stand aside as party deputy for Gladys Berejiklian.

However, she says she is still very keen to stay on as Health Minister and stand for re-election next year.

Mike Baird and Gladys Berejiklian leave the Macquarie Room after being selected to lead the state. Photo: Britta Campion

3:51pm on 17 Apr 2014

So the main talking point out of today's Liberal Party meeting - other than the selection of our new premier, of course - was a joke that was cracked as Mike Baird and Gladys Berejiklian walked into the room.

As they walked in side by side, Barry O'Farrell reportedly piped up:

"You're late. As a consequence, Gareth Ward has been elected Premier unopposed."

The room burst into laughter.

Mr Ward, the acting Speaker, entered state Parliament in 2011 as the Member for Kiama, on the south coast.

3:34pm on 17 Apr 2014

Former state and federal government MP Bruce Baird, father of Mike, spoke to Sky News earlier about his mixed emotions over the past day and a half.

Bruce Baird was transport minister in the government of Nick Greiner when he had a chief of staff named Barry O'Farrell. Now, his son Mike Baird has been elected to replace O'Farrell.